David Faber On Goldman CRE Write Downs And REIT Pain
David Faber discusses Goldman's real estate losses, and draws some conclusions about the upcoming pain for REITs. And yet, thanks to Goldman, which has been instrumental in upgrading and issuing stock for the REITs (and having a massive blow out quarter thanks in large part to its REIT underwriting activity), the sector is doing unprecedentedly well. Surely one has to wonder just what must happen at this point for people to realize what a ticking time bomb Commercial REITs are?
By the way, Jonathan, the Zero Hedge brain trust believes it is about time to downgrade your former Conviction Buy CBL soon (this is obviously not a threat or advice, investment or otherwise).